Bankruptcy FAQ

Arlington Bankruptcy Law FAQ

Frequently Asked Questions

Choosing to file for bankruptcy can be initially overwhelming, especially
if you do not have all of the necessary information. Our Arlington bankruptcy
attorneys at Weaver Law, PLLC are here to provide you with all of the
answers you need. We want to help you make informed decisions on your
own behalf and guide you in the right direction.

Will Others Know About My Bankruptcy?

Your bankruptcy filing will appear on your credit report for 7-10 years.
In some cases, your employer may be alerted if you are required to undergo
a repayment plan that deducts from your paycheck. Any other parties should
not be aware of your bankruptcy.

Can I Rebuild My Credit After Filing?

Absolutely. As soon as you receive your discharge in bankruptcy, you can
begin to rebuild your credit. Our Arlington Bankruptcy lawyers have access
to a unique and effective program – at no additional cost to you
– designed to immediately begin rebuilding your credit.

Will I Lose All of My Assets?

No, you will not lose all of your assets. Under
Chapter 13, you do not have to surrender any of your assets. In Chapter 7 filings,
you may need to liquidate certain assets to get rid of your debt. We can
discuss which assets you can keep with you before you make a decision.

Will I Lose My Home if I File?

Filing for bankruptcy can actually help you keep your home if you are facing
foreclosure due to late mortgage payments. In most cases, homeowners can
keep their homes when filing for bankruptcy.

Are There Any Alternatives to Bankruptcy?

There are a number of alternative options to declaring bankruptcy, such
as loan negotiations or modifications. We will need to meet with you to
determine which options you are eligible for and if it may be a better
choice than bankruptcy.